Canadian Imperial Venture Corp. - News Release

    Trading Symbols:
    TSX Venture Exchange: CQV
    Frankfurt Stock Exchange: DFM

    ST. JOHN'S, Nov. 2 /CNW/ - Canadian Imperial Venture Corp. ("CIVC" / the
"Company") is pleased to announce that the following individuals have been
appointed to the Company's Board of Directors:

    - Mr. Jerome (Jerry) Byrne
    - Mr. Robert Dubois

    New Director Bios:

    Jerome (Jerry) Byrne, a resident of Newfoundland and Labrador who
graduated from Memorial University in 1977 with a Bachelor of Engineering
degree. Mr. Byrne is currently the President and CEO of the D.F. Barnes Group,
an internationally recognized group of seven companies with over
400 employees. Mr. Byrne is active with the Association of Professional
Engineers and Geoscientists of NL, Junior Achievement and the St. John's Board
of Trade. He is also the Chairperson and a director of NOIA (NL Ocean
Industries Association) and chairs on several committees.
    Robert Dubois, a resident of Alberta, is the Owner and President of
Sunranch Holdings Limited, a private investment firm. He is also the Owner and
President of Sunchild Rentals Limited. He has recently sold the
Robert J. Dubois Corporation; a company which he founded and built that
provides timely solutions and continued support of computer hardware and
networking needs for remote oilfield sites. He brings to the Board an
abundance of experience and contacts in the service sector of the Canadian oil

    Canadian Imperial Venture Corp. is an independent Canadian-based energy
company with interests in petroleum exploration and development in western
Newfoundland and in western Canada.


    "Steven M. Millan"
    Steven M. Millan, P.Geo.
    Chairman and CEO

    This release includes certain forward looking statements which reflect
beliefs, expectations, objectives and goals which are believed to be
reasonable at the time such statements are made. Actual results could differ
materially from anticipated results and may be impacted upon such factors as
commodity prices, political developments, legal decisions, market and economic
conditions, industry competition, the weather, changes in financial markets
and changing legislation.

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.

For further information:

For further information: Canadian Imperial Venture Corp., (709)
739-6700, Fax: (709) 739-6605,,

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Canadian Imperial Venture Corp.

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